With reference to the week $7$ material and our discussions in class, complete a $1\mathrm{.}5$ page reflection on your grasp of the two learning objectives. Your submission should speak to your takeaways from the material and cover sufficient answers to the $2$ learning outcomes:

$1.$ distinguish the risks, advantages, and disadvantages of the various International Commercial Terms $($Incoterms$)2020$

$2.$ Develop a strategy to determine which Incoterm to negotiate as an Importer. and here is material of week $7$

FAS

A $$ The Sellers Obligations B $$ The Buyers Obligations

A$1$ General obligations

The seller must provide the goods and the commercial invoice in conformity

with the contract of sale and any other evidence of conformity that may be

required by the contract.

Any document to be provided by the seller may be in paper or electronic form

as agreed or$,$ where there is no agreement, as is customary.

B$1$ General obligations

The buyer must pay the price of the goods as provided in the contract of sale.

Any document to be provided by the buyer may be in paper or electronic form as

agreed or$,$ where there is no agreement, as is customary.

A$2$ Delivery

The seller must deliver the goods either by placing them alongside the vessel

nominated by the buyer at the loading point, if any, indicated by the buyer at

the named port of shipment or by procuring the goods so delivered.

The seller must deliver the goods

$1.$ on the agreed date or

$2.$ at the time within the agreed period notified by the buyer under B$10$ or$,$ if no

such time is notified, then at the end of the agreed period; and

$3.$ in the manner customary at the port; and

$4.$ If no specific loading point has been indicated by the buyer, the seller may

select the point within the named port of shipment that best suits its purpose

B$2$ Taking delivery

The buyer must take delivery of the goods when they have been delivered under

A$2.$

A$3$ Transfer of risks

The seller bears all risks of loss of or damage to the goods until they have been

delivered in accordance with A$2,$ with the exception of loss or damage in the

circumstances described in B$3.$

B$3$ Transfer of risks

The buyer bears all risks of loss of or damage to the goods from the time they

have been delivered under A$2$

If:

a$)$ the buyer fails to give notice in accordance with B$10$; or

b$)$ the vessel nominated by the buyer fails to arrive on time to enable the seller to

comply with A$2,$ fails to take the goods, or closes for cargo earlier than the time

notified in accordance with B$10$;

then the buyer bears all risks of loss of or damage to the goods:

$($i$)$ from the agreed date, or in the absence of an agreed date,

$($ii$)$ from the date selected by the buyer under B$10,$ or$,$ if no such date has been

notified,

$($iii$)$ from the end of any agreed period for delivery,

provided that the goods have been clearly identified as the contract goods.

A$4$ Carriage

The seller has no obligation to the buyer to make a contract of carriage.

However, the seller must provide the buyer, at the buyer's request, risk and

cost$,$ with any information in the possession of the seller, including transportrelated security requirements, that the buyer needs for arranging carriage. If

agreed, the seller must contract for carriage on the usual terms at the buyer's

risk and cost. The seller must comply with any transport$-$related security

requirements up to delivery.

B$4$ Carriage

The buyer must contract at its own cost for the carriage of the goods from the

named port of shipment, except when the contract of carriage is made by the

seller as provided for in A$4.$

A$5$ Insurance

The seller has no obligation to the buyer to make a contract of insurance.

However, the seller must provide the buyer, at the buyer's request, risk and

cost$,$ with information in possession of the seller that the buyer needs for

obtaining insurance

B$5$ Insurance

The buyer has no obligation to the seller to make a contract of insurance

A$6$ Delivery$/$transport document

The seller must provide the buyer, at the seller's cost, with the usual proof that

the goods have been delivered in accordance with A$2$

Unless such proof is a transport document, the seller must provide assistance

to the buyer, at the buyer's request, risk and cost, in obtaining a transport

document.

B$6$ Delivery$/$transport document

The buyer must accept the proof of delivery provided under A$6$

A$7$ Export$/$import clearance

a$)$ Export clearance $-$ Where applicable, the seller must carry out and pay for all

export clearance formalities required by the country of export, such as:

export licence; security clearance for export; pre$-$shipment inspection; and

any other official authorisation.

b$)$ Assistance with import clearance $-$ Where applicable, the seller must assist

the buyer, at the buyer's request, risk and cost, in obtaining any documents

and$/$or information related to all transit$/$import clearance formalities, including

security requirements and pre$-$ shipment inspecti